Sector: Renters, Home & Pet Insurance Case Spotlight: Lemonade’s AI bot Maya crafts personalized coverage for its users within seconds, and provides homeowners, renters, and pet insurance. Lemonade is backed by companies such as Allianz SE and Softbank Group, and has grown from $1M to $100M Annual Recurring Revenue in just 2.5 years (2019). Within this time, Lemonade increased licenses 20x, released 1500 software upgrades, and performed +10K product and marketing tests.
Subscription Model: Monthly flat fee (e.g. from $5/month – for a renter’s insurance). The subscription can be cancelled at any time.
Sector: Collective Health Insurance Case Spotlight: “Simplifed” and “transparent” health insurance for companies and freelancers crafting personalized coverage through a quiz. Signing up takes less than 5 minutes, and the Alan app offers perks such as allowing customers to connect with reimbursable medical practitioners within their surroundings and offers inclusive subscriptions to mediation apps. Alan is backed by CNP Assurance, among others.
Subscription Model: Monthly subscription depends on age, employment type, industry, and ranges from euro46/month to approximately euro 130/month.
Sector: B2C Digital Bank Case Spotlight: Offerings for subscribers include travel insurance packages, lifestyle insurances, “unique experiences,” and a dedicated line for customer support. N26 is backed by investors such as Allianz SE, and has partnered with Axos Bank to offers its services in the U.S.
Subscription Model: N26 Standard (free online bank account), N26 You (euro9.90/month), and N26 Metal (euro16.90/month)
Sector: SMB Digital Bank Case Spotlight: Holvie offers all-in-one business accounts for freelancers and entrepreneurs to streamline invoices, automate everyday bookkeeping, and provide overviews on expenses and tax prep. Holvi, acquired by BBVA in 2016, experienced 60% year over year growth between 2017 and 2018 and had reached 150K micro business customers as of May 2019.
Subscription Model: “Starter” subscription is free, while the “Grower” subscription starts at euro12/per month per user.
Sector: B2B Services Case Spotlight: SberSolutions offers online services for financial, operational, legal, and HR outsourcing, and can be used by clients and non-clients. One of Sberbank’s key strategies for 2020 is to “build a foundation for an ecosystem in non-financial industries”. Note: the Sberbank ecosystem companies have offered some of their services for free during the pandemic. For example, subsidiary DocDoc has launched a free telemedicine hotline for all Russian citizens.
Subscription Model: An example of Sberbank’s subscription pricing is its accounting service offered for 6,000 RUB to 29,000/month depending on volume of employees, documents, and operations.